Q4 Results/Call

[no gas]

This $6 million dollar bonus bothers me as well, since the numbers were so disappointing this last quarter.

I complained previously about the fact that Lucid does not have a car at the Oregon Auto Show here in Portland.

That $6 million dollars could have gone to making sure they had a car here as well as at other shows.

Rawlinson already received like a $500 million dollar bonus previously. That was fine then. It is not fine now. The money could have been spent better, getting the car into shows, shopping malls etc.

Yes I know all about contracts etc, but I don't believe bonuses should be awarded (contract or not), when the performance of sales was so poor.

My Lucid is a great car. This Performance bonus I believe was inappropriate based on the last quarter's numbers with the next quarter estimates not much better.

Yes I know that they are following a contract. But it still leaves a bad taste in my mouth, and I'm sure some others on this board feel the same.

Tell me which other CEO has the ability to make such range topping luxury EV’s? Elon Musk?

Not to mention the World luxury car of the year with their first product! No other company achieved that with their first car! Beating Mercedes, Porsche, Audi, BMW, Lexus, Jaguar etc etc etc……

 

[par11768]

I am less concerned about the bonus at only 6 mil, and wondering why they need to expand their factory by 1 million sq ft given the projected volume for 2024. The Gravity is an expensive car as well and will likely do better but not huge volumes at the price points. Not sure they need to spend all the buildout capital and endure ongoing expenses at this point in their development with about 5 quarters of cash left. .

 

[Neurio]

The build out was planned long ago. They could never had predicted the pandemic, the mini recession, interest rates through the roof, etc. They built it out for future production. They'll be able to build both Air and Gravity at the same time now. Imagine if they had to pick and choose? It'd be chaos changing the assembly line every few weeks.

As for the bonus, I read recently that it was for getting Gravity to preproduction, which, again, is something that would have been set many years ago (ie debut the SUV before end of 2023, or something like that).

As long as they keep their eyes on the prize, which is continuing to push the envelope on design and efficiency and to eventually go down market, I have no issues with what they're doing. They know a hell of a lot more than any of us on how to run an auto manufacturing company. Everyone here is just a keyboard warrior/armchair CEO otherwise.

 

[hydbob]

“Lucid (LCID) Chief Executive Peter Rawlinson will get a $6 million bonus related to the company's launch of an electric SUV in November.

The Newark, Calif.-based, luxury electric vehicle maker disclosed in a regulatory filing on Thursday that its board had approved the cash bonus, "in recognition of his significant contributions to this milestone achievement."

Thanks @AirDoll for finding the quote for me!

 

[PhotoEye]

“Lucid (LCID) Chief Executive Peter Rawlinson will get a $6 million bonus related to the company's launch of an electric SUV in November.

The Newark, Calif.-based, luxury electric vehicle maker disclosed in a regulatory filing on Thursday that its board had approved the cash bonus, "in recognition of his significant contributions to this milestone achievement."

Thank you. The rationale was all I was seeking.

 

[hydbob]

I am less concerned about the bonus at only 6 mil, and wondering why they need to expand their factory by 1 million sq ft given the projected volume for 2024. The Gravity is an expensive car as well and will likely do better but not huge volumes at the price points. Not sure they need to spend all the buildout capital and endure ongoing expenses at this point in their development with about 5 quarters of cash left. .

Well, there are 2 ways to do it, build ahead of time, or the Rivian approach which is, introduce a new Model, but have to wait 2 years to produce it in the new factory which is being built now.

Also, the old factory was not big enough to do what they wanted which was to integrate everything into 1 factory. Now, logistics will be better, which will drive the cost down of bringing things like stamping and power train on site.

 

[no gas]

I am less concerned about the bonus at only 6 mil, and wondering why they need to expand their factory by 1 million sq ft given the projected volume for 2024. The Gravity is an expensive car as well and will likely do better but not huge volumes at the price points. Not sure they need to spend all the buildout capital and endure ongoing expenses at this point in their development with about 5 quarters of cash left. .

SUV’s always sell x4 sedan, and they are building for the midsize as well. Incrementally increasing factory space is more expensive. Cheaper to build for the coming decade.

 

[no gas]

Also, I’m pretty sure they low balled the 9k production for 2024.

 

[Bobby]

As this thread continues, I'd remind posters of this portion of the forum guidelines (bold added for emphasis):

BE HELPFUL: Try to stay true to our goal of helping each other. Posting problems just to vent is not helpful to anyone. If you had a poor experience, post something that others will benefit from. Think: constructive criticism. Refrain from “entitlement” attitudes by avoiding narratives such as, “I spent $xxxxxx on this car so therefore I expect…", "my much cheaper xxxxx car has a feature my Lucid doesn't," etc. Rants are not acceptable. Also, please use a descriptive title in your post. Avoid titles that are ‘clickbait’ like “This is Unbelievable!” Such posts will be renamed to accurately reflect their content. Certainly, as with any vehicle, there will be problems, large and small; no vehicle or company is ever perfect. In these situations, it is especially important to strive to make your post informative and helpful to others, as opposed to a “rant.” We encourage you to share both good and bad experiences with the car with facts and details and not just opinions. Statements like “I am a Lucid supporter and want Lucid to succeed” do not balance out overly negative posts; these statements come across as insincere. Also, while it is highly encouraged to post recommendations on ways to improve the vehicles, please refrain from telling Lucid what they should do or how they should run their business; “armchair CEO” comments are widespread on the internet and nearly always missing nuance. Unless you have run a large auto manufacturer, it is very easy to lose the forest for the trees, and there are likely many challenges one is not aware of unless actually in the role. It is easy to forget there are thousands of real people working very hard to design, build, sell, and service Lucid vehicles. Please keep them in mind when you're about to write something negative.​

 

[kpbhat]

The key is that it was a cash bonus, not a stock bonus. Which may or may not tell you something ....

Probably without Peter Lucid won’t survive? Also Tesla struggled with just model S and dismal sales for over 8 years until model 3 came out. When I bought model s in 2015, Tesla was also in same boat, stock price at around $20 ; each stack is now X15. May not be that drastic with Lucid but I guess they need time. Everyone who has seen my car has been stopping (even reversing in their track) and asking me. So people just don’t know that they exist unless they are a car buff. I love this car more than Tesla; as a driver and the pleasure. iam sure this appeals to anyone who love cars. If they love tech then they are already with Tesla.

I am too a share holder now for simple reason that I have bought their product so I must be believing in them

 

[no gas]

Probably without Peter Lucid won’t survive? Also Tesla struggled with just model S and dismal sales for over 8 years until model 3 came out. When I bought model s in 2015, Tesla was also in same boat, stock price at around $20 ; each stack is now X15. May not be that drastic with Lucid but I guess they need time. Everyone who has seen my car has been stopping (even reversing in their track) and asking me. So people just don’t know that they exist unless they are a car buff. I love this car more than Tesla; as a driver and the pleasure. iam sure this appeals to anyone who love cars. If they love tech then they are already with Tesla.

I am too a share holder now for simple reason that I have bought their product so I must be believing in them

Exactly, those who think Lucid is a get rich quick scheme need not invest. Only diamond hands will win.

 

[Babyrocko1908]

I'm in it for the long haul as well. Growth takes time and I don't believe the company is going anywhere in the next few years barring anything unexpected. They simply make the best product, and I can't believe that a company making the best electric vehicle on the market will fail. I'm hoping the price continues to drop tomorrow so I can buy some more nice and cheap!

I've already made my transfer. Buy order ready for 9:30 sharp.

 

[Babyrocko1908]

Range- 440 miles, let’s see anyone else beat that!

No one has done it yet which is why legacies are reaching out to inquire about partnering for the battery and drive train tech.

Lucid is sitting on Goldmine of tech. It's going to make us all millionaires over the next 6 to 8 years. See y'all in 2030!

 

[Babyrocko1908]

Also, I’m pretty sure they low balled the 9k production for 2024.

No question. I also think Gravity's first deliveries wil start in early Q4.

 

[WildRide47]

Honestly, with the amazing product he has pioneered and all the long hours that he has put in, I think he deserves every penny.

The question I have is where will the $6 million dollars do the most good.

Giving a bonus to the CEO who already had received a bonus of some $500 million dollars previously.

Or taking that $6 million and making sure that Lucid is present and accounted for in as many auto shows or shopping malls as possible to increase exposure to the public.

It may seem strange to those on this board but many people still don't know what a Lucid is or who makes it etc.

I understand many on this board feel Rawlinson deserves the $6 million, but which use of the money makes the most sense to expand visibility of the brand.

 

[no gas]

The question I have is where will the $6 million dollars do the most good.

Giving a bonus to the CEO who already had received a bonus of some $500 million dollars previously.

Or taking that $6 million and making sure that Lucid is present and accounted for in as many auto shows or shopping malls as possible to increase exposure to the public.

It may seem strange to those on this board but many people still don't know what a Lucid is or who makes it etc.

I understand many on this board feel Rawlinson deserves the $6 million, but which use of the money makes the most sense to expand visibility of the brand.

Rawlinson is the best EV engineer in the world- he brought the Model S to market, Lucid- 516 mile range and now a SUV with at least 440 mile range. The tech that Lucid has is unbeatable and even better than Tesla.

His 500 million was stock options, not salary, and he hasn’t sold one share other than for tax purposes- and it was because clueless retail investor ran up the stock to $60.

I will also be happy if he gets a 10 million bonus for getting an unbeatable midsize to market because this is a long game. Understand this company is only trading for the past 3 years. Give it time to establish. This pullback in EV investments from other companies is good for Lucid, gives more time for Lucid to find its footing, time to innovate further, increase the tech gap and be ready for the EV domination that is coming. ICE cars are dead soon, by 2035, EV sales will easily be 50-60%

I don’t care what happens in the short term, I’m holding till 2035 at least.

 

[no gas]

The question I have is where will the $6 million dollars do the most good.

Giving a bonus to the CEO who already had received a bonus of some $500 million dollars previously.

Or taking that $6 million and making sure that Lucid is present and accounted for in as many auto shows or shopping malls as possible to increase exposure to the public.

It may seem strange to those on this board but many people still don't know what a Lucid is or who makes it etc.

I understand many on this board feel Rawlinson deserves the $6 million, but which use of the money makes the most sense to expand visibility of the brand.

Actually, 6 million doesn’t go very far in marketing….

 

[Babyrocko1908]

Rawlinson is the best EV engineer in the world- he brought the Model S to market, Lucid- 516 mile range and now a SUV with at least 440 mile range. The tech that Lucid has is unbeatable and even better than Tesla.

His 500 million was stock options, not salary, and he hasn’t sold one share other than for tax purposes- and it was because clueless retail investor ran up the stock to $60.

I will also be happy if he gets a 10 million bonus for getting an unbeatable midsize to market because this is a long game. Understand this company is only trading for the past 3 years. Give it time to establish. This pullback in EV investments from other companies is good for Lucid, gives more time for Lucid to find its footing, time to innovate further, increase the tech gap and be ready for the EV domination that is coming. ICE cars are dead soon, by 2035, EV sales will easily be 50-60%

I don’t care what happens in the short term, I’m holding till 2035 at least.

Holding and loading up. We understand the tech, it's too bad retail investors don't!

 

[xponents]

Holding and loading up. We understand the tech, it's too bad retail investors don't!

The current wave of "robinhood investors" from covid has had terrible effects on the market (and before you call out the irony, i started in 2019 lol). Nowadays, I sometimes barely see any logic in investing among a majority of the robinhood investors (as in, they dont do proper research into WHY they think a company may do good or bad, in lucids cash technology). These investors sometimes "artificially" inflate/deflate stocks due to this.

 

[Genghis]

The current wave of "robinhood investors" from covid has had terrible effects on the market (and before you call out the irony, i started in 2019 lol). Nowadays, I sometimes barely see any logic in investing among a majority of the robinhood investors (as in, they dont do proper research into WHY they think a company may do good or bad, in lucids cash technology). These investors sometimes "artificially" inflate/deflate stocks due to this.

Other than low float, low volume trading stocks, retail Robinhood investors don't move prices. Market movers and institutional trading are the ones that dictate current market share price. The current share price of LCID is what the market thinks it's currently based on the guidance that Lucid provided and other macro level factors that could affect this guidance like high interest rates, EV demand, supply chain, etc. Only things that can move the price up from what the market thinks, you need catalysts like partnership announcements, beating and increasing guidance, speculative rumors, etc. Stay in school!